The world of high rise and loft condos in Phoenix is spinning. My team of agents and I specialize in this hot market and we have a very tough time keeping up with all the new product being announced. We use this blog to share any new news we hear on the street or through conventional media. Join us.

Friday, April 07, 2006

I went to the Ground Breaking Ceremony for 44 Monroe last night; a typcal event with cocktail tables draped in white, shrimp with cocktail sauce, and live music. Although the event was nothing to write about I am VERY happy to see that they're finally breaking ground. I was definitely concerned that it might never happen. General rule for 44 Monroe is that units will start at $465 per foot for a 1400 square foot 2bd/2ba with two parking spaces on the 10th floor. The same floor plan runs all the way to the 32nd floor but the price goes up to $683 per foot at that level. At the high end of the prices you can get a penthouse with almost 4300 square feet on the top floor (34th) for $822 per foot ($3.5M before upgrades). Actually the prices aren't bad overall especially when you consider that owners are trying to get $425 to $1000 per foot for units at Optima Biltmore and SunCor is asking $450ish to about $800 per foot at Hayden Ferry.